Petrobras corruption scandal reaches New York court: banks will have to explain sale of bonds to US investors

Monday, March 23rd 2015 - 17:13 UTC

Full article 6 comments

Fifteen banks will join Petrobras next week, April 3, in a New York court to explain how they did nothing wrong when selling 98 billion dollars worth of the Brazilian state oil company’s bonds to American investors. Of the 15, lawyers representing the investment banking divisions of Itau and Bradesco will appear before New York judge Jed Rakoff in hopes to escape the scandal. Read full article

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Chicureo
If this scandal does not result in the impeachment of Dilma Rousseff, it will be because too many powerful Brazilians will fall with her. The obvious solution would be for some key politicians, ministers and businessmen to commit suicide over the next couple of weeks. Preferably with a borrowed pistol and done when there are no witnesses. Oh, and no working security cams...
Mar 23rd, 2015 - 07:50 pm - Link - Report abuse 0
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Captain Poppy
Arrests and indictments yet the linch pin remains untouched. She claims ignorance to it all. In charge of the whole show but she does not know what happens in each scene and act. Impressive CEO she was.
Mar 23rd, 2015 - 09:40 pm - Link - Report abuse 0
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ilsen
This is becoming huge!

Can Dilma survive this?

I expect to see some nasty revelations soon regarding the Vnzlan Chavista connections.
I can't show proof yet, (I only hear the rumours), but I am sure it is coming...
Mar 24th, 2015 - 01:44 am - Link - Report abuse 0
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Captain Poppy
I am sure you are correct. It seems that no place is exempt from massive corruption in SA. While I understand that no system is without corruption in some form. In SA politics is seems to be pervasive and the rule rather than the exception.
Mar 24th, 2015 - 10:48 am - Link - Report abuse 0
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ChrisR
Corruption does indeed pervade most of SA.

Here in Uruguay we have the edifying spectacle of Sendic, our newly minted VP seems to have shrugged off the U$D 300 M he “lost” and couldn't account for when he ran ANCAP the state petroleum and fuels business.

As there are only 3.3 million men, women and children, we all have to pay an additional U$D 100 to the government to cover it.

“No Money” Pepe was sure no malfeance had occurred. Yeah, no shit Sherlock.

What really concerns me is the knock on that a Brazil staggering from one hiatus to another due to the huge corruption that is only just coming to light will have on the trading balance with Uruguay. Whatever it is it won't be good.
Mar 24th, 2015 - 11:25 am - Link - Report abuse 0
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Captain Poppy
This Petrobas scandal is going to spread through SA like cancer......and not ball cancer.....pancreatic cancer. However.....I am convinced that the troll droids here will find some way in standing behind their Master Thieves.
Mar 25th, 2015 - 02:05 am - Link - Report abuse 0
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